Abacus Life Inc
For the period ended Mar 31, 2024. Filed May 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 13, 2024
ABX$9.13+1.6%Stored close · as of Nov 10, 2026
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Consolidated Balance Sheets
ABACUS LIFE, INC.
CONSOLIDATED BALANCE SHEETS
| March 31,2024(unaudited) | December 31,2023 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $65,386,512 | $25,588,668 |
| Equity securities, at fair value | 3,403,897 | 2,252,891 |
| Accounts receivable | 2,520,869 | 2,149,111 |
| Accounts receivable, related party | 215,033 | 79,509 |
| Due from affiliates | 760,364 | 1,007,528 |
| Prepaid expenses and other current assets | 2,037,753 | 699,127 |
| Total current assets | 74,324,428 | 31,776,834 |
| Property and equipment, net | 547,561 | 400,720 |
| Intangible assets, net | 28,048,028 | 29,623,130 |
| Goodwill | 140,287,000 | 140,287,000 |
| Operating right-of-use assets | 2,182,681 | 1,893,659 |
| Life settlement policies, at cost | 1,434,444 | 1,697,178 |
| Life settlement policies, at fair value | 125,488,525 | 122,296,559 |
| Available-for-sale securities, at fair value | 1,145,630 | 1,105,935 |
| Other investments, at cost | 1,650,000 | 1,650,000 |
| Other assets | 1,501,036 | 998,945 |
| Equity securities, at fair value | 110,067 | 96,107 |
| TOTAL ASSETS | $376,719,400 | $331,826,067 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| CURRENT LIABILITIES: | ||
| Current portion of long-term debt | $15,648,628 | $13,029,632 |
| Accrued expenses | 707,159 | 4,354,225 |
| Operating lease liabilities | 232,138 | 118,058 |
| Due to affiliates | 5,236 | 5,236 |
| Due to former members | 1,159,712 | 1,159,712 |
| Contract liabilities, deposits on pending settlements | 667,500 | 507,000 |
| Other current liabilities | 3,797,808 | 3,400,734 |
ABACUS LIFE, INC.
CONSOLIDATED BALANCE SHEETS (CONT.)
| March 31,2024(unaudited) | December 31,2023 | |
|---|---|---|
| Income taxes payable | 1,617,171 | 751,734 |
| Total current liabilities | 23,835,352 | 23,326,331 |
| Long-term debt, related party | 38,794,519 | 37,653,869 |
| Long-term debt | 131,365,988 | 89,137,013 |
| Operating lease liabilities | 2,028,959 | 1,796,727 |
| Deferred tax liability | 9,657,810 | 9,199,091 |
| Warrant liability | 5,696,000 | 6,642,960 |
| TOTAL LIABILITIES | 211,378,628 | 167,755,991 |
| COMMITMENTS AND CONTINGENCIES (Note 12) | ||
| STOCKHOLDERS' EQUITY | ||
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding | — | — |
| Class A common stock, $0.0001 par value; 200,000,000 authorized shares; 63,776,058 and 63,388,823 shares issued at March 31, 2024 and December 31, 2023, respectively | 6,378 | 6,339 |
| Treasury stock - at cost; 778,766 and 146,650 shares repurchased at March 31, 2024 and December 31, 2023, respectively | (8,807,454) | (1,283,062) |
| Additional paid-in capital | 209,889,362 | 199,826,278 |
| Accumulated deficit | (36,074,880) | (34,726,135) |
| Accumulated other comprehensive income | 120,323 | 108,373 |
| Noncontrolling interest | 207,043 | 138,283 |
| Total stockholders' equity | 165,340,772 | 164,070,076 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $376,719,400 | $331,826,067 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.